What can i do?

kentguy07

I am in £1000 debt and it keeps going up with vet bills and then i have to pay interest on top of that. I currently get £420 a month and out of that i have to buy food and expenses etc. The debt just keeps going up.

I dont know what to do i know its only 1k but at the mo i will have to pay about £100 interest on top of that and that will keep going up.

I have stuff in my house that i could sell like a pc that would take a chunk of the price but where could you sell such things fast without selling online?.
I got a £400 desktop a £200 ring a £100 tft screen but my guess is that i wont get as much as they are worth from somewhere like cash converters.

**Amy**

Hi

Welcome to MSE. :hello:

It might be worth posting a SOA (statement of account) which basically lists all your incomings and outgoings.

As you only have a small incoming it is a good idea to try and sell some bits and bobs you dont need/use on ebay? You probably wont get much for the desktop or the ring. But other bits and bobs that you dont use around the house, books/dvds etc.

Also, is the debt an overdraft? On a CC? What is your APR on it? Would it be feasible to try and switch it to a 0% credit card?

x

~Beanie~

What is your debt, an overdraft? Credit card? Loan? How come it costs you £100 per month in interest?

kentguy07

Its on a cc the interest has cost roughly £100 now i have been in debt quite some time and the thing is its not done on my cc i don't own one. My mum lets me borrow x amount from her cc to pay for what i need like vet bills.
Hopefully at the weekend i will get to sell some stuff. I cant do eBay becuase i have no debit/credit card.

My bank account is just a plain old savings but as soon as something goes in it comes out. I think the interest rate is high on my mums cc with nationwide maybe i should get my own but don't you have to be registered to vote?.

Also does it pay you to buy stuff on credit say for argument sake you brought something from argos you needed and got it on credit then you have to pay x amount to argos each month until you paid for the item or is it cheaper to just buy them on a cc.

**Amy**

Hi

I really think you need to talk to your mum about her Credit Card. If she is paying a very high interest rate it might be in both your best interests to move it to a 0% card (virgin etc. do 0% on balance transfers for sometimes 15 months which would give you time to pay off the debt).

Im not sure getting your own credit card is the way forward, however you could apply for one of the ones you top up. Its a mastercard but you put money on it first before using it.

As for getting things on credit, i am inclined to say dont get them at all. Argos (as used in your example) tend to charge an extremely high interest rate (29.9% the last time i checked) so it really isnt worth doing that. And buying things on credit cards etc. can land you in lots more debt (see my signature :rotfl: ).

Sorry for sounding like a kill joy but for non-essentials it may be worth saving up.

Re: your vet bills, have you got pet insurance? It may be worth looking into that.

x

kentguy07

I do not think i can get pet insurance for rabbits and if they do not sure if they cover being spade & jabs and worming. In 7 days i am going to try get the cash for paying for the next vet bill its £100 for my two rabbits to get spade otherwise they fight.

I put some stuff online hopefully it will sell in 7 days.

I will talk to her and see about changing credit card. I do hit the credit card heavy
With the camera and pc for college work and getting in to college then driving lessons and vets i foresee myself getting in allot of debt.

**Amy**

hi

No you are right insurance does not cover routine things like spaying, worming etc. I do find it odd that 2 rabbits are costing £100 to spay, where my two cats cost less. Anyway, thats not the point thats me detouring as always.

Fingers crossed for you selling your items.

You dont *have* to get into a lot of debt. On this forum there is a board called "up your income" with some very good ideas on how to make extra money. I have made a lot of extra money using this site.

Good luck

x

kentguy07

**Amy** wrote: »

hi

No you are right insurance does not cover routine things like spaying, worming etc. I do find it odd that 2 rabbits are costing £100 to spay, where my two cats cost less. Anyway, thats not the point thats me detouring as always.

Fingers crossed for you selling your items.

You dont *have* to get into a lot of debt. On this forum there is a board called "up your income" with some very good ideas on how to make extra money. I have made a lot of extra money using this site.

Good luck

x

Thats Pets At home prices for ya lol.
I will take a look at the how to make extra money forum.
Thanks